8 December 2011: Tokyo remains the most expensive city in the world according to new research by human resources consultants ECA International. Oslo is ranked second, while Karachi is said to be the least expensive city. The Swiss cities of Zurich and Geneva occupy places three and five in the ranking. The top four costliest cities in Asia are all Japanese, with the Korean capital Seoul placed fifth. In Europe, Norwegian and Swiss cities are to be avoided by the budget conscious.

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Previous winners and runners-up include the mayors of Bilbao, Perth, Mexico City, Oklahoma City, Cape Town, Zurich, Melbourne, Amsterdam, Athens, Mississauga and Tirana. The World Mayor Project aims to show what outstanding mayors can achieve and raise their profiles nationally and internationally. MORE